Teknovations Series: Investor Outlook 5
How will InvestTN impact the start-up scene in Tennessee?
Related to the second question in this series, what impact do you think that the $70 million ‘Invest TN’ program and its three sub-funds will have on drawing in more capital?”
This question is related to the second in this investor outlook series from Teknovations; read the second post in the series here. Each year, Teknovations presents pertinent questions to investors throughout the region, including our own Managing Partner Eric Dobson. Here’s Eric’s answer to this tough question:
“Every state has resources they must deploy on a schedule with the SSBCI program. So, in that sense, there is a level playing field. That should mean states with outstanding dealflow will draw in capital looking to be deployed from the traditional monetary centers. The climate is right. It appears to be a buyer’s market in 2024. I expect to see savvy investors on both coasts start looking for deals in the heartland, which I also believe was one of the goals of the SSBCI program – free up capital to go to small businesses between the coasts. Much will depend on how Launch Tennessee supports/markets the companies in the state that can command capital from the monetary centers. Competition will be fierce.”